Costa Rica looks set to receive a $375 million credit line through the Inter- American Development Bank (IDB) after the allocation passed a first legislative vote last week.
The funds, which await approval in a second vote, as well as presidential sign-off, would be the first installment of an expected $850 million granted by the IDB for transportation purposes. The Public Works and Transport Ministry (MOPT) said it would use the funds to construct and repair several roadways throughout the northern and Central Valley regions, as well as build an estimated 29 new bridges.
Of the $375 million, an estimated $45 million would go to complete construction the 30-kilometer highway from Sifón in San Ramón to La Abundancia in San Carlos, in north-central Costa Rica, a project in the works for over 20 years. Insufficient funds and faulty plans have stunted the road’s development. According to MOPT, the new road will have nine bridges and will shorten the distance between Ciudad Quesada, near San Carlos, and San José from 95 to 81 km.
“Since I assumed the role of legislator, one of my principal objectives has been to complete the new highway,” said Mireya Zamora, of the Libertarian Movement Party. “To see that this dream is getting closer to reality fills me with great satisfaction and pride. … For over 30 years the people of the northern zone have hoped for this new route and, if God allows it, very soon it will be a reality.”